Transit Bus Market Size

Report ID: GMI7238
   |
Published Date: December 2024
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Report Format: PDF

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Transit Bus Market Size

The global transit bus market size was valued at USD 488.7 billion in 2024 and is projected to grow at a CAGR of 8.3% between 2025 and 2034. Urbanization and rising population density are transforming public transportation infrastructure globally. Cities are prioritizing sustainable and efficient transit solutions to address traffic congestion and enhance mobility. The increasing demand for cost-effective and accessible transportation is driving transit agencies to modernize bus networks.

 

Transit Bus Market

For instance, according to the UN Department of Economic and Social Affairs, as of May 2024, 55% of the global population resides in urban areas, with this share projected to increase to 68% by 2050. Urbanization is expected to drive an additional 2.5 billion people into urban areas by 2050. Key investments are being directed toward advanced routing technologies, real-time tracking systems, and integrated public transit solutions. Governments are positioning buses as critical assets for fostering economic growth, promoting social inclusion, and achieving carbon emission reduction targets in urban areas.
 

Strict global environmental regulations are accelerating the shift toward zero-emission vehicle technologies in the transit sector. Governments are enforcing ambitious carbon reduction goals, mandating the adoption of electric and hydrogen-powered buses. Financial incentives, tax benefits, and grants are expediting the deployment of green transportation solutions. The push for sustainable mobility is underpinned by climate change mitigation efforts, the need to improve urban air quality, and the goal of reducing reliance on fossil fuels. These regulatory frameworks are creating strong business opportunities for adopting cleaner transit bus technologies.
 

Authors: Preeti Wadhwani, Aishvarya Ambekar
Frequently Asked Question(FAQ) :
What is the size of the 40-70 seats transit bus segment?
The 40-70 seats segment is projected to surpass USD 560 billion by 2034, led by the adoption of electric powertrain technologies and high-capacity battery systems optimized for urban transit.
Who are the major players in the transit bus market?
How much is the China transit bus industry worth?
How big is the transit bus market?
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    Base Year: 2024

    Companies covered: 21

    Tables & Figures: 200

    Countries covered: 21

    Pages: 180

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